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4 hours ago

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BULLISH 📈 : Kraken adds USDCx support for deposits and withdrawals on Canton Network

Kraken enabled USDCx deposits and withdrawals on the Canton Network. The exchange says the feature is live from June 11. Kraken blog

USDCx is Canton-native. It is backed 1:1 by USDC locked in Circle’s xReserve on Ethereum. Users deposit ERC‑20 USDC to mint USDCx on Canton. Kraken blog

Canton is a permissioned, privacy-enabled Layer‑1 for regulated institutions and tokenized real‑world assets. It uses sub‑transaction privacy with selective disclosure. Kraken blog

Kraken notes Canton’s CC token pays transaction fees. Kraken blog

Key takeaways:
- Deposits and withdrawals of USDCx are now supported on Kraken. Kraken blog
- USDCx is backed by USDC in xReserve on Ethereum at a 1:1 ratio. Kraken blog
- Canton targets institutional settlement with privacy and compliance features. Kraken blog
- The move adds exchange connectivity to Canton’s stablecoin rail. Kraken blog

Title: Kraken adds USDCx deposits and withdrawals on Canton Network